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Tuesday, 17 September 06:58 (GMT -05:00)



Business And Politics News

Soros Says Russia Will Go Broke In 2017


According to George Soros, the world-famous billionaire an investor, Russia is going to go bankrupt in 2017 when it is time to pay most of Russia’s foreign debts. In order to avoid this worst-case scenario, Vladimir Putin wants the European Union to crash instead, which is why he has recently been doing his best to make it happen, the investor says.
 

 

 

 

The financier also says that Putin’s popularity among the Russians is based mainly on the so-called “contract with the society”, which implies that the president should be backing stable growth of living standards as well as financial stability.
 
However, due to sanctions and low oil prices the Russian government and President Putin are no longer capable of doing so. To date, the Russian budget deficit is somewhere around 7% of the national GDP. Yet, the authorities will have to cut it by 3% more in order to avoid letting the rate of inflation go out of control. Inflation growth may seriously affect people’s lives as well as the Russian electorate in advance of the forthcoming parliamentary election in the Russian Federation, which is planned for the second part of the year.
 
With that being said, Mr. Soros assumes that a EU collapse may really help Vladimir Putin to hold on to his post of the Russian President and stay in power. More specifically, any EU disintegration may free Russia from most of those Western sanctions imposed on Russia by European nations. He also says that Russia will get some other benefits from such a scenario.
 
Russia’s existing policy in Syria is nothing but Putin’s desire to prepare Europe fro disintegration and collapse, Mr. Soros is convinced. All of you know that the military campaign in Syria escalated the migration of Syria refugees to EU countries, which happens to be a serious problem from the European Union undermining its stability. This problem is really capable of doing away with the EU, which now has to fight against 5 or 6 crises at a time, the financier says. That is the major reason why Putin cannot be seen as the West’s full-fledged ally in the war against the ISIS. Why some European leaders are seeing Russia as an ally, they are making a huge mistake, Mr. Soros warns. This leads us to believe that Russia and the EU are some kind of rivals competing for survival. The question is, who collapses first?
 

 

As for Russia’s foreign debt, they say it is obliged to pay some 60 billion dollars in January – September 2017. The famous financier, who can boast a huge fortune of $24,9 billion, has been actively criticizing Russia and the EU over the last few months.

 

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